Wästbygg Gruppen AB (publ) presents its interim report for the period January - September 2022.

“While the current market situation is placing high demands on our entire business, inflation and other uncertainty factors in the market have been managed well in our daily operations. Meanwhile, we faced financial challenges in Q3 related to a small number of projects in the Logistics and Industry business area. Measures have been taken to avoid further added costs, but as reported on 19 October, the profit was impacted by write-downs of SEK 65 million in Q3. With regard to other business conditions, we continue to see positive development with increased revenues, a strong order intake and an order backlog that also at the end of Q3 amounts to slightly under SEK 7 billion,” says Jonas Jönehall, CEO Wästbygg Group.

GROUP IN SUMMARY, IFRS
1 January – 30 September 2022

• Revenue SEK 3,452 million (2,718)
• Operating profit SEK -64 million (224)
• Profit after tax SEK -30 million (228)
• Earnings per share SEK -0.92 (7.06)
• Cash flow from operating activities SEK -1,100 million (-126)
• Interest-bearing net cash (+) /net debt (-) SEK -836 million (428)
• Equity ratio 34% (52)

1 July – 30 September 2022

• Revenue SEK 1,101 million (767)
• Operating profit SEK -74 million (58)
• Profit after tax SEK -56 million (56)
• Earnings per share SEK -1.73 (1.74)
• Cash flow from operating activities SEK -309 million (-191)

SUMMARY ACCORDING TO SEGMENT REPORT
1 January – 30 September 2022

• Revenue SEK 3,981 million (2,547)
• Operating profit SEK 68 million (207)
• Profit after tax SEK 105 million (216)
• Earnings per share SEK 3.25 (6.68)
• Cash flow from operating activities SEK -637 million (77)
• Interest-bearing net cash (+) /net debt (-) SEK 402 million (856)
• Equity ratio 41% (56)
• New orders SEK 4,137 million (2,943)
• Order backlog 30 September SEK 6,679 million (3,634)

1 July – 30 September 2022

• Revenue SEK 1,299 million (822)
• Operating profit SEK -27 million (74)
• Profit after tax SEK -9 million (75)
• Earnings per share SEK -0.28 (2.31)
• Cash flow from operating activities SEK -171 million (-141)
• New orders SEK 1,201 million (703)

Comparative figures in parentheses refer to profit items corresponding to the period 2021 and for balance sheet items corresponding to the balance sheet date 2021.

SIGNIFICANT EVENTS IN THE THIRD QUARTER

• A contract was signed with BlackRock Real Assets for the construction of a 36,000 sqm logistics facility in Eskilstuna. The order value was SEK 285 million.
  
• On 25 August 2021, Lansa Fastigheter acquired Wästbygg’s self-developed project Journalen 1 in Malmö comprising 177 rental apartments. All terms and conditions of the contract were met in August this year and Lansa took possession of the property on 17 August 2022. The project has started construction.

Today at 9:30 Jonas Jönehall, CEO and Jessica Gårdmo, CFO, will present and comment on the report. The presentation will be held in Swedish.

Link to webcast: https://group.wastbygg.se/en/q3-2022/

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For more information, please contact:

Jonas Jönehall, CEO
Phone: +46 73 920 19 01
Email: jonas.jonehall@wastbygg.se

Jessica Gårdmo, CFO
Phone: +46 73 467 26 15
Email: jessica.gardmo@wastbygg.se

Robin Sundin, Group Legal Counsel and Head of IR
Phone: +46 72 529 30 04
Email: robin.sundin@wastbygg.se

wastbygg.se
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About Wästbygg Group:

The Wästbygg Group is a listed construction and project development company that builds and develops residential, commercial buildings and community service properties, as well as logistics and industrial facilities – always with a major focus on sustainability. The group comprises Wästbygg AB, Rekab Entreprenad AB, Logistic Contractor AB and Inwita Fastigheter AB.

The group operates in the most rapidly expanding markets in Sweden, with Logistic Contractor also providing services in Denmark, Norway and Finland. In 2021, the group had sales of SEK 3.8 billion and 525 employees.